Coombs makes US U-turn after New York trip

David Coombs, head of multi-asset investments at Rathbones, has decided to "reappraise his views" on the US after a trip to New York convinced him of the economy's growth potential.

Coombs (pictured) had recently been moving money from US into Europe based on cheap valuations, but he said that on a forward earnings basis "it may have been the wrong call". "Something is going on in the US economy, the housing market is on a path of recovery and shale gas will be a game changer. How many green shoots do you need before you become bullish?" "Everyone was so bullish in New York, it was startling. I thought I made a mistake reducing my exposure to the US and I need to review it," he said. After speaking to local fund managers, Coombs is now a subscriber to the US d...